| A
series of ambitious economic reforms
aimed at deregulating the economy and
stimulating foreign investment has moved
India firmly into the front runners of
the rapidly growing Asia Pacific Region
and unleashed the latent strength of a
complex and rapidly changing
nation.
India’s
time tested institutions offer foreign
investors a transparent environment that
guarantees the security of their long
term investments. These include a free
and vibrant press, a well established
judiciary, a sophisticated legal and
accounting system and a user friendly
intellectual infrastructure.
India’s
dynamic and highly competitive private
sector has long been the backbone of its
economic activity and offers
considerable scope for foreign direct
investment, joint ventures and
collaborations.
Companies
incorporated in India and branches of
foreign corporations are regulated by
the Companies Act, 1956 (the Act). The
Act, which has been enacted to oversee
the functioning of companies in India
FEMA-
The Parliament has enacted the Foreign
Exchange Management Act, 1999 to replace
the Foreign Exchange Regulation Act,
1973. This Act came into force on the
1st day of June 2000. The object of the
Act is to consolidate and amend the law
relating to foreign exchange with the
objective of facilitating external trade
and payments and for promoting the
orderly development and maintenance of
foreign exchange market in India.
This
Act extends to the whole of India and
will also apply to all branches, offices
and agencies outside India owned or
controlled by a person resident in
India. It will also be applicable to any
contravention committed outside India by
any person to whom this Act is
applicable.
Labour
Laws- Under the Constitution of India,
Labour is a subject in the Concurrent
List where both the Central & State
Governments are competent to enact
legislation subject to certain matters
being reserved for the Centre.
India
is a federal country consisting of
States and Union Territories. States are
also partners in the economic reforms
being undertaken in the country. Most of
the States are making serious efforts
for simplifying the rules and procedures
for setting up and operating the
industrial units. Single Window System
is now in existence in most of the
States for granting approval for setting
up industrial units. Moreover, with a
view to attract foreign investors in
their states, many of them are offering
incentive packages in the form of
various tax concessions, capital and
interest subsidies, reduced power
tariff, etc.
Briefly
Regulatory provisions are covered.
However for specific query please do
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